My One Medical Source® (MOMS) Closes $1.1 Million Seed Round Financing Led by JumpStart Ventures
Healthcare Tech Investors Support the Company’s Growth Objectives That Are Helping to Increase Access to Advanced Diagnostic and Specialty Testing
CLEVELAND, April 19, 2022 /PRNewswire/ — My One Medical Source® (MOMS), a platform as a service health-tech company, is a solution to help advanced diagnostic and specialty clinical labs connect with the medically-trained personnel required to perform, prepare, and ship specimen collections to the designated lab to generate patient results, announced today that they have closed a $1.1 million Seed Round led by JumpStart Ventures. Additional investors are from the Northeast Ohio private sector.
Capital from this financing will be used to accelerate customer service, sales, and marketing as the company grows its national collection network and client base.
“My One Medical Source is making it more convenient for patients to get access to innovative diagnostic tests through its network of MAPs: Medical Access Points™,” said Hardik Desai, Managing Partner at JumpStart Ventures. “Brad’s knowledge of the industry and his passion for solving this critical problem were the driving forces behind our investment in the company.”
Over 70 percent of all medical decisions are based upon a lab result, but access to the skilled labor needed to perform a specimen collection has been limited to the largest clinical labs with their own patient service center networks or health systems that collect specimens for their own use. The growing interest and availability of direct-to-consumer (DTC) testing combined with the over 13 billion tests performed in the United States each year has created a need for increased access to advanced testing options. This increase in access can help identify risk earlier, leading to better patient outcomes.
There are over 5,000 independent labs in the United States that face the challenge of finding a compliant solution for the collection of specimens needed for their testing to be offered. The MOMS platform addresses a laboratory’s need to address Anti-Kickback issues, while also delivering an increased efficiency through the platform’s innovations and connecting with the appropriate labor across the country.
“MOMS was created to help labs connect with the skilled labor needed to properly collect the specimens from a patient either ordered by their provider, who does not draw blood in their office, or a patient that has ordered a kit from a lab for their testing. In both cases, they need to find a phlebotomist in their area who is familiar with the instructions for that lab to perform a successful collection,” said Founder/President of MOMS, Brad Seybert. “The largest labs have their own collection sites, and it is a competitive advantage. There are numerous advanced labs that have innovative, unique testing, but struggle to compete because connecting the patient with the skilled labor is difficult and can be expensive. We are connecting facilities that already perform lab collections, as well as those that can provide mobile phlebotomy, with the various labs and clients whose programs require phlebotomy collections in an appropriate business relationship. Healthcare is a very controlled industry, and our solution helps address the needs for compliance, convenience, and the high-quality workflows to help increase access to more advanced testing.”
The MOMS platform is a solution for a laboratory’s need to address Anti-Kickback issues, while also delivering an increased efficiency through the platform’s innovations and connecting with the appropriate labor across the country.
About My One Medical Source® (MOMS)
My One Medical Source® (MOMS) is committed to providing a compliant, convenient, and quality process-driven resource for those seeking a better experience in navigating the most requested services and information needed in healthcare. Our platform is shifting the existing paradigm of specialized testing for those who need it and those who supply it, to a new model that empowers both parties and makes healthcare more accessible.
For more information, visitwww.myonemedicalsource.com. Follow MOMS onLinkedIn andTwitter.
About JumpStart Ventures
JumpStart Ventures is a division of JumpStart Inc. focused on venture capital investing. JumpStart Ventures deploys Pre-seed, Seed, and Series A funding to early-stage technology startups in Ohio. With four investment funds under management, they provide a continuum of capital to tech startups as they move through critical phases of development. To learn more, visit JumpStart.VC.